Cathay Pacific Airways Ltd. is counting on the resignation of its British chief executive officer, Rupert Hogg, to move beyond the tumult that saw its employees' participation in the Hong Kong protests draw the ire of Beijing. But will it be enough?
Incoming CEO Augustus Tang has the delicate task of continuing to placate China, an increasingly important market for the 72-year-old airline, while also minimizing the fallout from staff, customers and investors as the unrest in its home base continues to seethe.
Whether Tang — a long-time lieutenant with Cathay's biggest investor, Swire Group — succeeds or falters, Cathay's story is having repercussions beyond the carrier itself. It's become a cautionary tale of modern-day China, with the country increasingly willing to call out companies that want access to its lucrative consumer market, but don't toe the party line.